FintekNews-KFTX Fintech Index-11/18 Daily & Week End Closing Analysis

By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group

11/18/16 Daily Closing Analysis & Week End Review – NASDAQ Fintech Index (KFTX)


Screeching halt. Yup, really a dead stop. The KFTX index closed basically unchanged at 1050.96, up less than a point (.70) and a miniscule +0.01%. The word boring is too kind.

So, probably none of the indexes 49 stocks moved at all today, right? Well let’s just take a look at anything that moved 2 points and/or 3% today.

BOFI  +.82  (23.49)  +3.62%
RATE  +.35  (10.55)  +3.43%
SPGI  -2.17  (121.80)

Well I’ll be darned, there were 3 issues that got out of bed this morning. All the others, not so much. Very mixed with 25 issues up, 23 issues down and 1 unchanged. Let’s call Friday a snooze.

For the week the fintech index had a very nice rise of exactly 2%, meaning the KFTX closed up 21.66 points to close at 1050.96. Let’s check the issues with a plus or minus 3% move on the week:

BR  +3.15%  (62.31)

CLGX  +3.07%  (38.67)

DNB  +3.38%  (121.87)

EFX  +6.60%  (121.56)

ENV  +7.30%  (38.20)

FDC  +6.03%  (15.48)

FISV  +3.78%  (104.29)

FLT  +4.64%  (150.20)

LC  -3.54%  (5.98)    Geeeezzzzzz! The only one down on the list. Sad.  (Read why here) 

PAY  +6.54%  (17.63)

RATE  +7.65%  (10.55)

SEIC  +4.03%  (47.68)

SSNC  +3.57%  (32.62)

WEX  +4.42%  (106.45)

Now that is a very sound assessment of the week. KFTX up 2% on the week and all the issue with a 3% move were all up (oh yeah, except one). A nice broad rally and the index is only around 4 points form an all time high. Since this is a very quiet week (I think) with Thanksgiving (US Holiday) on Thursday, let’s not expect too much but probably a drift to the upside. Have a great week.